Mr. Andrew Skafel reports

EDGEWATER WIRELESS ANNOUNCES COMPLETION OF SIXTH PAYMENT OF DEBENTURE INTEREST

Edgewater Wireless Systems Inc. has settled its obligation to pay an aggregate of $17,850.96 in interest as of March 1, 2024, to the holders of its unsecured debentures issued Sept. 1, 2022, through the issuance of an aggregate of 357,016 common shares of the company at a deemed price of five cents per share. The shares are issued in full satisfaction of the March 1, 2024, interest payment obligation in accordance with the terms of the debentures. The debt settlement has been approved by the TSX Venture Exchange.

Certain directors of the company received an aggregate of 68,810 shares and, therefore, the share issuance constitutes a related-party transaction as that term is defined in Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company will rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the shares nor the debt exceeds 25 per cent of the company's market capitalization.

About Edgewater Wireless Systems Inc.

Edgewater Wireless is a leading provider of innovative spectrum slicing technology for residential and commercial markets. With a focus on high-density and high-quality service needs, Edgewater Wireless develops advanced Wi-Fi silicon solutions, access points and IP (Internet protocol) licensing. With over 26 granted patents, Edgewater Wireless continues to revolutionize Wi-Fi, making it better for everyone. Edgewater's physical-layer spectrum slicing allows a frequency band to be divided or sliced to enable more radios to operate in a given area. Think of spectrum slicing like moving from a single-lane road to a multilane highway -- regardless of Wi-Fi technology. The recently completed proof of concept (PoC) with a major Tier 1 service provider showed seven to 18 times performance gains in 75 per cent of homes surveyed. Interestingly, homes with the most devices saw the greatest improvements.